Anticipation Grows as Experts Predict XRP ETF Application Soon Following SEC’s Bitcoin ETF Approval

Speculation is growing in the crypto community about the possibility of an XRP Exchange-Traded Fund (ETF) filing following the recent approval of the first-ever spot Bitcoin ETF by the United States Securities and Exchange Commission (SEC). Despite the ongoing legal battles between the SEC and Ripple, recent developments suggest a shift in regulatory sentiment.

Crypto influencer Jack The Rippler shared a screenshot revealing an XRP Exchange-Traded Product (ETP) named Amun Ripple AXRP ETP registered with Fidelity. This has sparked speculation about the potential for an XRP ETF application. The news was met with excitement, with Jack The Rippler tweeting that an XRP ETP on Fidelity and an XRP ETF are coming soon, bringing generational wealth.

It is important to note that the regulatory landscape for Ripple has seen a positive turn with a summary judgment by Judge Analisa Torres in July 2023. The judge ruled that the sale of XRP tokens to retail buyers does not qualify as securities assets. This decision has given confidence to those seeking permission to launch XRP ETFs, with major players like Blackrock, Van Eck, Fidelity, Bitwise, and Valkyrie feeling more optimistic about approval.

Market analysts are closely watching for potential XRP ETF filings, with speculations from the XRP community suggesting an application could be submitted as early as April 2024. XRP Whale, a prominent figure in the XRP community, has hinted at a potential XRP ETF launch before the end of the year. However, it is important to note that these hints remain speculative, with no official communication from potential issuers.

In terms of price performance, XRP has shown relatively subdued momentum compared to Bitcoin. Currently, XRP is experiencing a 1.6% decrease, trading at $0.559. However, there has been a notable surge in trading volume over the last 24 hours, soaring by 104%, contributing to an overall market cap of $30 billion.